Here's The GOP's First Counteroffer To Delay The Sequester

Congressional Republicans are preparing their first counteroffer to President Barack Obama to avert the across-the-board cuts of the looming sequester, a House GOP aide confirmed this morning.

Politico, which first reported the news, said that top Republican members of the House and Senate Armed Services Committees are formulating a proposal that would delay the sequester for a year by slashing the federal workforce by 10 percent. The House GOP aide said this would be done solely through attrition, a gradual reduction in the federal workforce.

The Republican plan will be led by Rep. Buck McKeon, the chair of the House Armed Services Committee, and Sen. Kelly Ayotte (R-N.H.). It's unlikely to gain much traction, however, as McKeon has been pushing for a similar proposal for more than a year now.

In his press conference, Obama called for a "balanced mix" of spending cuts and tax reform for a short-term fix to avert the sequester. McKeon, among other Republicans including House Speaker John Boehner, balked at the President's offer.